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Week of August 11 - 17, 2008

Inspiring Entrepreneurs in Emerging Economies

Endeavor, a global partner of Global Entrepreneurship Week, garnered attention in The Economist last week for its work to promote entrepreneurship in emerging economies. Formed in 1997, Endeavor got its start in Argentina and Chile, seeking to provide an extensive support network for potential high-impact entrepreneurs. Now, it operates in eleven countries and with 333 ‘Endeavor entrepreneurs’ running companies that provide 91,000 high-paying jobs (more than ten times the minimum wage in a country). The organization’s expansion plans—25 countries by 2015—received a recent boost with a $10 million investment from the Omidyar Network, established by eBay founder Pierre Omidyar. In May, its Latin American presence was strengthened by a $2.7 million grant from the Inter-American Bank’s Multilateral Investment Fund to support projects in Argentina, Brazil, Chile, Colombia, Mexico and Uruguay.

Read “Spreading the gospel” in the August 2 print edition of The Economist. Learn more about Endeavor at www.endeavor.org.

Interesting Regional Experiments (Part 2)

Over the past few months a number of local and regional initiatives designed to help support local entrepreneurs and to build local innovation hotspots have garnered increased attention. In last week’s NDE-news, we profiled efforts in Michigan and Ohio. Here are two more that merit a look:

• Iowa’s Okoboji Entrepreneurial Institute
  From August 3-8, Okoboji, Iowa hosted 32 Iowa college students who participated in a weeklong entrepreneurship boot camp known as the Okoboji Entrepreneurial Institute. The students were selected from a statewide competition, and lived in the homes of local entrepreneurs and business leaders. Along the way, they received intensive mentoring and coaching in how to build a successful entrepreneurial venture. The ultimate goal is to demonstrate that there are tremendous entrepreneurial opportunities for young people in Iowa. This year’s Institute also included a new component: a weeklong Iowa Lakes Corridor Middle School Entrepreneurial Academy where local middle school students got their own immersion into the world of entrepreneurship.
  
  To learn more about the 2008 Okoboji Entrepreneurial Institute or read a recent article from the Sioux City Journal, "Young entrepreneurs dream of success."

• Utah’s Concept to Company Contests
  Do you have a good idea for a new product in the outdoor recreation industry? If so, you should check out Utah’s latest Concept to Company competition. This contest is designed to capitalize on Northern Utah’s booming outdoor recreation industry. The contest is open to local and out-of-state entrepreneurs who are encouraged to submit new ideas and inventions, which will be judged by a panel of industry experts. The winner receives of $20,000 along with lots of great publicity. The deadline for submissions is August 30, 2008.
  
  Learn about the 2008 Utah Concept to Company competition.

Self-Employment in an Aging Workforce

As the American workforce gets older, the economy will benefit if more of these older workers remain in the workforce longer than they do today. Support for self-employment may offer one potential solution. A new study from researchers affiliated with the Bureau of Labor Statistics and Boston College examines the patterns of how older workers transition in and out of self-employment. The researchers find that self-employment levels increase with age, as older workers seek more flexible work environments. In fact, one-third of male workers between the ages of 51 and 61 are self-employed. This finding runs contrary to historical patterns where younger workers were more likely to be self-employed. The researchers suggest that older workers are more willing to take risks later in life if they are more highly educated and more skilled. In addition, workers without pensions or health insurance benefits were also more likely to pursue self-employment.

Download the 2008 Boston College Department of Economics Working Paper, “Self-Employment Transitions among Older Workers with Career Jobs,” by Michael D. Giandria, Kevin E. Cahill, and Joseph F. Quinn.

The National Dialogue on Entrepreneurship is an initiative of the Public Forum Institute made possible by a grant from the Kauffman Foundation of Kansas City. Through NDE-news, we bring you short summaries and analyses of various trends driving entrepreneurship around the world. Subscribe now to receive your weekly copy. Archived issues are available online.

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